HONG KONG: Asian stocks extended a global rally on Thursday and the dollar sank after Federal Reserve (Fed) Chairman Jerome Powell flagged a rate hike slowdown and China signaled a softer approach to fighting Covid.
A growing sense of hope that months of sharp monetary tightening around the world is finally reining inflation back from its decades-long highs sent equities surging in November, even as policymakers warned that more work had to be done.
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